DiscussMormonism.com

Current federal regulations plus those coming under Obamacare will cost American taxpayers and businesses $1.8 trillion annually, more than twenty times the $88 billion the administration estimates, according to a new roundup provided to Secrets from the libertarian Competitive Enterprise Institute.

And it could grow, warned the author of the report, Clyde Wayne Crews, a CEI vice president.

Complying with Health and Human Services Department requirements alone, he revealed, costs $184 billion a year, yet regulators are still drafting the rules for the 2,400-page Obamacare law that kicks into gear in 2014.

Crews has made a working project of his "Tip of the Costberg" report which he regularly updates. In it, he compares the cost of regulations estimated by federal agencies to a much broader list of estimates from multiple federal and independent sources. And even then, he said, it doesn't include hard-to-calculate costs associated with antitrust intervention, regulation of electricity networks, or the cost of constrained access to natural resources.

"While OMB officially reports amounts of only up to $88.6 billion in 2010 dollars," said Crews, "the non-tax cost of government intervention in the economy, without performing a sweeping survey, appears to total up to $1.806 trillion annually."

But, he added, "according to back of the envelope surveys and roundups, with gaps big enough to fit the beltway through, that up to $1.806 trillion annually and in many categories perhaps even considerably more, is a defensible assessment of the annual impact on the economy."

His estimate is close to the $1.7 trillion estimate from the Small Business Administration which the White House distanced itself from. For comparison, the total U.S. GDP is $15 trillion.

The wave of Obama regulations has become a huge sore point in the business world with groups as large as the U.S. Chamber of Commerce down to the International Franchise Association crying for fewer rules. The administration, however, argues that the rules and regulations pushed out under the president have made products and workplaces safer.

Below are some of the estimates from Crews' report:

http://washingtonexaminer.com/1.8-trillion-shock-obama-regs-cost-20-times-estimate/article/2508466#.UFvnyFH4LKr

bcspace wrote:Poor addled KG. He can't disprove the numbers and he missed the point which was that the regs were sold to us much more cheaply than they actually were.

Bond James Bond wrote:I recommend the Republican health care plan. Don't cover anyone except millionaires who can pay doctors out of pocket with gold and precious stones. The old, disabled, and poor will die first and Mitt Romney will drink their blood for sustenance. He will grow strong enough to combat Communism and protect Citizen Corporations.

You haven't proved the numbers. You just throw out BS assertions masquerading as "studies" by some fringe interest group disguised as think tank, usually developed by the same nutjobs who come up with the FOX News talking points.

They are a dime a dozen and have no credibility anywhere in the real world. How many times do we have to prove your sources are s*** before you stop quoting them?